SCHEDULE: Vanguard Group Reports Zero Stake in Procore Technologies

The Vanguard Group has filed an amended Schedule 13G, indicating it no longer holds beneficial ownership in Procore Technologies Inc. following an internal realignment.

Summary

• The Vanguard Group filed an Amendment No. 3 to Schedule 13G regarding its holdings in Procore Technologies Inc. Common Stock.
• As of the event date March 13, 2026, The Vanguard Group reports 0.00 shares beneficially owned, representing 0% of the class.
• This change is attributed to an internal realignment within The Vanguard Group, Inc. that occurred on January 12, 2026.
• Following the realignment, certain subsidiaries or business divisions of The Vanguard Group, Inc. will now report beneficial ownership separately (on a disaggregated basis).
• The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by these disaggregated subsidiaries and/or business divisions.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, primarily administrative in nature, reflecting an internal organizational change at Vanguard rather than a direct positive or negative assessment of Procore Technologies Inc.

Positives

• The filing provides clear disclosure regarding The Vanguard Group's current beneficial ownership status in Procore Technologies Inc. following an internal restructuring.

Negatives

• The Vanguard Group, as the reporting entity, no longer holds a direct beneficial ownership stake in Procore Technologies Inc. due to the internal realignment.

Future Outlook

The filing indicates a change in The Vanguard Group's reporting structure, with certain subsidiaries now reporting beneficial ownership separately. This suggests a continued, albeit disaggregated, investment strategy by Vanguard's various entities, as the underlying investment strategies are stated to remain the same.

Management Comments

• "On January 12, 2026, The Vanguard Group, Inc. went through an internal realignment. In accordance with SEC Release No. 34-39538 (January 12, 1998), certain subsidiaries or business divisions of subsidiaries of The Vanguard Group, Inc., that formerly had, or were deemed to have, beneficial ownership with The Vanguard Group, Inc., will report beneficial ownership separately (on a disaggregated basis) from The Vanguard Group, Inc. in reliance on such release."
• "These subsidiaries and/or business divisions pursue the same investment strategies as previously pursued by The Vanguard Group, Inc. prior to the realignment."
• "The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by such subsidiaries and/or business divisions."

Industry Context

StockSavvy.ai notes that institutional investors like The Vanguard Group frequently adjust their internal reporting structures and beneficial ownership disclosures, particularly for large, diversified asset managers. This realignment reflects an internal operational change rather than a shift in investment strategy for Procore Technologies Inc. specifically, as the underlying investment strategies are stated to remain the same across the disaggregated entities.

Corporate Governance

Stakeholder Impact

• Shareholders of Procore Technologies Inc. may observe a change in the reported institutional ownership by The Vanguard Group, though the underlying investment by Vanguard's various entities may continue under separate reporting.
• Investors in Vanguard funds will see continued investment strategies, but the reporting of beneficial ownership will be disaggregated for certain entities.

Next Steps

• Certain subsidiaries or business divisions of The Vanguard Group, Inc. will report beneficial ownership separately from The Vanguard Group, Inc. in future filings.

Key Dates

Keywords

Vanguard Group, Procore Technologies, Schedule 13G, Beneficial Ownership, SEC Filing, Investment Adviser, Common Stock, Institutional Ownership